ECONOMY
‘Wall of supply’ to block oil rally at $55, Goldman Sachs says
Baku, October 6, AZERTAC
Oil’s rally will stall at $55 a barrel as U.S. shale drillers get back to work and a “wall of supply” from investments made over the past decade hits the market, Goldman Sachs Group Inc. said.
Global oil markets are set to remain “very oversupplied” in 2017 amid the return of disrupted output in Nigeria and Libya, resilient U.S. shale production and the start of major projects commissioned over the past 10 years, Goldman’s head of commodities research Jeff Currie said in a Bloomberg television interview.
“We’re still seeing a lot of oil enter this market,” Currie said in an interview with Tom Keene and Francine Lacqua. “It’s hard for this market to go above $55.”
FEEDBACK
Other news in this section
- 29.08.2023 [10:41]
Oil prices fall in world markets
- 29.08.2023 [10:34]
Azerbaijani oil price sells for $88.56
- 28.08.2023 [16:41]
Shah Deniz celebrates 200 billion cubic metres of total gas production
- 28.08.2023 [10:49]
Oil prices rise in world markets
- 26.08.2023 [10:53]
Azerbaijani oil price exceeds $88
- 26.08.2023 [10:36]
Oil prices rise in world markets
- 25.08.2023 [11:00]
Azerbaijani oil price drops in world markets
- 25.08.2023 [10:21]
Oil prices rise in world markets
- 24.08.2023 [10:57]
Oil prices fall in world markets
Iraqi President invited to COP29
- [12:45]
Kyrgyz Cinema Days open in Baku
- [11:27]
Azerbaijani oil sells for $89.49
- [10:21]
® Bakcell is inviting the entire country to the concert at Boulevard
- 24.04.2024 [20:28]
® Birbank Business’s special “Welcome” campaign for new customers
- 24.04.2024 [20:23]
Kyrgyz President Sadyr Zhaparov pays tribute to Azerbaijani martyrs
- 24.04.2024 [19:06]
Kyrgyz President Sadyr Zhaparov pays respect to Great Leader Heydar Aliyev
- 24.04.2024 [18:55]
US Congress members informed about Azerbaijan-Armenia peace process
- 24.04.2024 [18:31]
Azerbaijan-Hungary Energy Working Group convenes fourth meeting
- 24.04.2024 [18:11]
AZERTAC hosts meeting with Uzbek journalists VIDEO
- 24.04.2024 [17:24]
Court investigates business corruption accusation against wife of Spanish PM
- 24.04.2024 [16:57]
Hungarian foreign minister to visit Azerbaijan
- 24.04.2024 [16:42]
Türkiye rejects ‘one-sided’ statements on 1915 events
- 24.04.2024 [16:22]
Azerbaijani rowers aim for 'medal rush' in Hungarian tournaments
- 24.04.2024 [16:11]
Azerbaijani tennis player grabs bronze at WTT Youth Contender Spa 2024
- 24.04.2024 [15:47]
Azerbaijan and Kyrgyzstan signed documents VIDEO
- 24.04.2024 [15:34]
Azerbaijan’s Naval Forces and MES hold Wave-2024 joint tactical exercise
- 24.04.2024 [14:04]
President of Azerbaijan invited his Kyrgyz counterpart to COP29
- 24.04.2024 [13:55]
International experts convene for conference in Azerbaijan’s Lachin
- 24.04.2024 [13:50]
Azerbaijani ambassador presents his credentials to President of Gambia
- 24.04.2024 [12:57]
BHOS hosts opening of International Scientific Conferences
- 24.04.2024 [12:49]
® Nar presents new books to a school in Fuzuli
- 24.04.2024 [12:38]
Presidents of Azerbaijan and Kyrgyzstan held meeting in limited format VIDEO
- 24.04.2024 [12:30]
Oil prices go up in global markets
- 24.04.2024 [11:49]
Chairman of Presidency of Bosnia and Herzegovina invited to COP29
- 24.04.2024 [11:46]
President of Kyrgyzstan Sadyr Zhaparov arrives in Azerbaijan for state visit
- 24.04.2024 [11:30]
Havertz scores 2 as Arsenal routs Chelsea 5-0 to cement Premier League lead
- 24.04.2024 [11:08]
China to launch Shenzhou-18 crewed spaceship on April 25
- 24.04.2024 [10:54]
Azerbaijani oil price exceeds 89 dollars
- 24.04.2024 [10:43]